IF YOU ARE BULLISH: - Expect bounce of support at $0.017 to go on an impulse (minor) wave 3 climb. - ZIL to reach between $0.021 to $0.0232 in the short term
IF YOU ARE BEARISH: - Expect to break support level and go lower than $0.017 as ZIL continues a protracted countertrending (intermediate) wave 2 - aka an extended corrective (minor) wave C
Takeaways: - not sure if it's good to go LONG or SHORT until further confirmations - sit tight and let the bears or bulls give you further clarity
Not
ZIL matched stock markets and dipped below the support ($0.0170). We now get confirmation that we are still in counter-trending Intermediate Cycle Wave ((2)) or Minor Cycle Corrective Wave C.
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